- Cronos crypto witnesses a good advance in trading volume.
- The CRO token price is trading 1200% above its all-time low.
Crypto.com, a leading cryptocurrency platform, offers diverse financial services including buying, selling, and storing of digital assets, and a Visa card for crypto payments.
Founded in 2016, Crypto.com rebranded from Monaco in 2018. The Cronos Blockchain, its underlying technology, prioritizes DeFi, NFTs, and gaming. The Cronos (CRO) token facilitates transactions within the ecosystem.
The Cronos crypto is following a strong trend as the price is trading in a strong uptrend and it has advanced by 89.6% in the last 30 days. Following this, the market cap of the Cronos crypto has advanced to $4.249B.
Moreover, the market cap ranking of the token is 33rd in the global cryptocurrency market, as per CoinMarketCap. The trading volume of crypto has also advanced by 66% over the last 24 hours, which has resulted in $50.812M.
Following the volume, the volume/market cap ratio of the crypto is 1.20%. Furthermore, the circulating supply of the crypto is 26.571B CRO and the total supply of the token is 30.0B CRO. Also, the maximum supply of the token is 30.263B CRO and the fully diluted market cap of the token is $4.832B.
The token’s supply has a high supply inflation of 5.18% and the market cap dominance of the crypto is 0.16%. Also, the volatility of the token is extremely high resulting in 23.30%.
Cronos Crypto Derivatives Analysis
The derivatives trading volume of the Cronos crypto has advanced by 50% in the previous 24 hours, resulting in a traded volume of $14.27M. The open interest of the crypto has also advanced by 4.85%, resulting in $12.99M.
The short liquidation for the crypto is high, showing the buyers’ dominance and the value of the short liquidation is $13.34K. The aforementioned data results in a long/short ratio of 0.9531 for the token.
Total Amount Of Holders Vs Social Dominance Of Cronos
On the chart of Santiment.net, it is evident that the social dominance of the token has declined in the last few days. The token’s price and the number of crypto holders are consistently advancing. It shows that despite the decline in social hype, the investors are showing their interest in the crypto.
CRO Crypto Technical Analysis
The trading price of the CRO crypto has broken out above the crucial resistance levels. It continues to advance after taking support at the breakout levels. Since the price took support at the breakout levels, it has witnessed a surge of 100% in trading price.
The current price action on the weekly time frame represents strength in the price and the probability of further advance.
CRO/USD Chart by TradingView.com
Following the strength in the price action on the larger timeframe, the technical indicators give a buy signal on the daily timeframe, as the majority of the oscillators indicate strength on the chart.
The price of the CRO token has advanced above the 20-day and 50-day EMAs, followed by a golden cross of the 50-day and the 200-day EMA.
The MACD and the signal line are trading with a bullish cross above the zero level. It is followed by the formation of bullish histograms on the chart. The RSI indicator has also advanced above the overbought zones and has broken out above the 14-day SMA.
Summary
Cronos (CRO) crypto shows strong uptrends with 89.6% gains in 30 days, boasting a $4.249B market cap, 33rd globally. Trading volume surged by 66% in 24 hours. Despite declining social dominance, holders and the price rise indicate investor interest. Technical analysis suggests continued bullish momentum with buy signals and positive indicators, potentially doubling from current levels.
Technical Levels:
- Support levels: $0.0500 and $0.0830
- Resistance levels: $0.200 and $0.4800
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.